MOBILE, Ala. -- While the European Aeronautic Defence and Space Co. won’t be building tankers for the U.S. Air Force at Brookley Field, the property is still a “great investment,” University of South Alabama Foundation managing director Maxey Roberts said Thursday.

“We certainly are all disappointed the Department of Defense did not choose to award it to EADS,” said Roberts during the board’s regular meeting.

USA Foundation board members unanimously agreed in September to buy 300 acres at Brookley Center from the university, paying $20 million in annual $4 million installments, for the USA Brookley Center, plus some rental property owned by USA.

But Roberts said the tanker contract “was not a factor” in the foundation’s decision to purchase the property.

She said “with or without the tanker,” the Brookley property is still valuable.

The foundation, she said, continues to “plan for further development of that property.”

The university closed its Brookley facilities, which included rental housing, a golf course, a cafeteria and classrooms, after selling to the foundation.

In other business, Brad Roberts, director of accounting for the foundation, announced that the foundation’s net assets increased 7.4 percent to more than $283 million during the six months ending Dec. 31.

During that time, the foundation approved a $2 million semi-annual contribution to USA for miscellaneous things, such as faculty travel to professional meetings, graduate assistantships, a cancer research fund and for the Whiddon Honors Program.

Also, the following foundation board members were re-elected: Judge Otha Lee Biggs, Dr. Asa N. Green, Ellen F. Green, D. Gregory Luce Jr. and John T. Whiddon. Dr. J. Allan Tucker was re-elected as the faculty representative on the board. Their terms will go through March 31, 2020.

The USA Foundation holds an endowment that benefits the 15,002-student university. The 21-member foundation board is not controlled by the school.